What loan size and loan to value?

The property offered a balanced investment opportunity—enough to significantly enhance its value through renovations, yet manageable in scope and cost.

Syndication Reporting IssuesMissing Form 8918 for reportable transactionsInconsistent investor disclosuresRequired registrations skippedWhat Doesn't Actually Matter:(Despite What Your Uncle's CPA Says)Special AllocationsNormal promote structuresStandard waterfall provisionsTypical developer promotesReality: Unless extremely aggressive, IRS rarely caresTechnical DocumentationMinor §704(b) gapsCapital account glitchesTechnical allocation languageTruth: Unless hiding something biggerProperty Value AllocationsNormal basis step-upsTypical appreciation splitsStandard promote calculationsReal World Example:🏢 100-unit apartment complex4 partners, $5M dealDeveloper promote structure= Zero IRS interestSame Deal With Red Flags:🏢 100-unit apartment complexHidden partner arrangementsArtificial loss allocationsUnreported debt shifts= IRS AttentionPractical Protection Steps:Basic Documentation✅ Clean operating agreement✅ Economic substance✅ Partner contributions tracked(Don't need War & Peace complexity)Economic Reality✅ Allocations match economics✅ Real money movement✅ Actual partner participationClean Reporting✅ Consistent K-1s✅ Required forms filed✅ Clear communicationThe "Sleep Well" Test:Can you explain your structure to an IRS agent without sweating?

Feel free to reach out though if you have specific questions, it is fairly common!

Before the purchase, I got an appraisal that valued the property at $130,000 as-is.

Diversification Beyond the Stock Market: Real estate provides tangible, real-world value that helps hedge against market volatility—a crucial feature when building a resilient retirement portfolio.

Unless you have a way to source off market deals or have a crew to provide labor for below market value, you're kind of relying on hope and luck to find a deal that works.

You can have replacement value insurance and this seems to be what Airbnb claims to provide yet sometimes getting them to pay is challenging.

Look at the current reviews and see how people feel about the place.

If you have an questions, feel free to reach out, or if you're in the area, let's grab a coffee!